December 23rd will mark the first day of the "Santa Claus Rally",...
December 23rd will mark the first day of the "Santa Claus Rally", which occurs on the last 5 trading days of the year and the first 2 trading days of the new year, according to Kenny Jimenez, research manager at Dow Jones Market Data.
The S&P 500 averages a gain of 1.32% and has traded higher 78% of the time since 1950.
But the odds of Santa appearing this year may be long. Not just because sentiment is currently so poor, but perhaps because a winning streak is looking a bit long in the tooth.
"If the S&P 500 finishes the Santa Claus rally period higher this year, it would be its 7th consecutive successful Santa Claus rally; surpassing the six successful rallies ending 2013/2014 and the longest since the 8 successful rallies between 1969/1970 and 1976/1977," says Jimenez.
Lumber dropped to a new low for 2022 as homebuilder sentiment slips for the 12th month in a row. The...
Lumber dropped to a new low for 2022 as homebuilder sentiment slips for the 12th month in a row. The critical building commodity is now down 68% year-to-date, and is off 79% from its record high reached in May 2021. "NAHB is expecting weaker housing conditions to persist in 2023 and we forecast a recovery coming in 2024," economist Robert Dietz said.
Benchmark U.S. crude oilfor January delivery rose 90 cents to $75.19 a barrel Monday. Brent crude for February delivery rose 76 cents to $79.80 a barrel.
Wholesale gasolinefor January delivery rose 5 cents to $2.18 a gallon. January heating oilfell 7 cents to $3.05 a gallon. January natural gas fell 75 cents to $5.85 per 1,000 cubic feet.
Between 18% and 22% of North Dakota's oil production was knocked offline Friday by a winter storm that...
Between 18% and 22% of North Dakota's oil production was knocked offline Friday by a winter storm that clobbered the northern US, but oil volumes were expected to make a swift recovery as conditions improve, said state Pipeline Authority Director Justin Kringstad. Drilling and completion activity was also expected to remain subdued for a few days.
Not all carbon emissions offsets are created equally, and in a world where accusations of greenwashing...
Not all carbon emissions offsets are created equally, and in a world where accusations of greenwashing abound, how can executives ensure they are offsetting their organization's emissions in a transparent and responsible way? Blake Lawrence from Cool Effect outlines five questions organizations should ask before buying carbon emission offsets.
